HyperLiquid to airdrop 310 million HYPE tokens to early adopters

November 28, 2024 – Decentralized exchange HyperLiquid has announced the launch of its native token, HYPE, with a massive airdrop targeting early adopters.

The token generation event, which took place at 07:30 UTC on Nov 29, will distribute 31% of HYPE's total supply, or 310 million tokens, to users who earned points during a campaign earlier this year.

Key Highlights of the Airdrop and HYPE Utility:

Token Distribution: HYPE has a total supply of 1 billion tokens. The initial distribution allocates:

• 31% (310 million tokens) to early adopters.
• 23.8% for current and future core contributors, locked for one year.
• The remaining supply is reserved for community rewards, foundation budgets, and ecosystem development.

Usage and Functionality:

• HYPE will be staked to secure HyperBFT, a highly optimized proof-of-stake consensus algorithm powering the Hyper Liquid blockchain.

• The token will serve as the native payment method for gas fees on the HyperEVM, the network's programmable environment.
• It will also be a key building block for decentralized finance (DeFi) applications within the ecosystem.

HyperLiquid has cemented its position as one of the leading decentralized exchanges (DEX) with over 220,000 users and a 24-hour trading volume exceeding $2.4 billion.

HyperLiquid currently has $1.307 billion in total value locked (TVL)

The platform offers a seamless user experience, combining the speed of centralized exchanges with the self-custodial ethos of DeFi.

Expanding the Scope of HyperLiquid

Initially launched as a DEX, HyperLiquid has evolved into a comprehensive financial system built on a high-performance Layer 1 blockchain.

The platform boasts:

• HyperBFT Consensus: Capable of handling 200,000 transactions per second with a time to finality of just 0.2 seconds.
• Native Components: A spot and perpetual DEX optimized for high-throughput trading.
• HyperEVM: Enabling programmability for both native components and general-purpose on-chain activities.

Strategic Distribution and Future Growth

The token's allocation strategy emphasizes community involvement, with 76.2% of the total supply directed toward public rewards and emissions.

Unlike many token launches, HyperLiquid’s genesis distribution strictly excludes private investors, centralized exchanges, and market makers, reflecting its commitment to decentralization.

Token Allocation Breakdown:

The max supply of HYPE is 1,000,000,000 tokens, distribute as follow:

• 38.888% for future emissions and community rewards.
• 31% for genesis distribution to early adopters.
• 23.8% for core contributors (locked for one year).
• 6% for the Hyper Foundation budget.
• Small percentages allocated for community grants and specific initiatives.

The airdrop recipients will receive fully unlocked tokens, while undistributed tokens will be rolled into future community rewards. Most core contributor tokens will vest between 2027 and 2028.